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Questions and Answers
What is the title of the act mentioned in the text?
What is the title of the act mentioned in the text?
- Debt Resolution and Liquidation Act (DRLA) of 2009
- Financial Rehabilitation and Insolvency Act (FRIA) of 2010 (correct)
- Insolvency and Debt Recovery Act (IDRA) of 2011
- Financial Stability and Recovery Act (FSRA) of 2008
What is the main policy goal of the State?
What is the main policy goal of the State?
- To protect the interests of creditors over debtors
- To encourage debtors and creditors to collectively resolve competing claims (correct)
- To prioritize the rights of natural persons over juridical persons
- To expedite the liquidation process for financially distressed individuals
Where was the Act initiated and held?
Where was the Act initiated and held?
- Metro Manila (correct)
- Quezon City
- Cebu City
- Davao City
What does the Act aim to ensure in the rehabilitation or liquidation process?
What does the Act aim to ensure in the rehabilitation or liquidation process?
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What is the specific number of the Republic Act mentioned in the text?
What is the specific number of the Republic Act mentioned in the text?
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